The gale of job losses being witnessed in the country due to the current economic hardship has caught up with Ecobank Nigeria, which has sacked over 1,040 of its employees.

The PUNCH reported on Tuesday that Diamond Bank Plc sacked over 200 members of its workforce, while FBN Holdings, the parent company of First Bank of Nigeria Limited, recently said it would prune the number of its employees by 1,000.

Top officials of the pan-African lender confirmed to our correspondents that the initial list of those to be sacked had over 1,400, workers but was later reduced to “a little above 1,000.”

Ecobank spokespersons declined to comment on the number of workers who were disengaged.

However, the lender said in a statement that it had converted over 200 outsourced personnel to permanent employees as part of its drive to attract and reward talent, while also repositioning for improved efficiency.

In line with the recognition of excellence, the bank also said it had recently implemented a merit-based pay increase for the top performers across all cadres.

The Managing Director, Ecobank, Mr. Charles Kie, was quoted as saying that converting qualified outsourced staff to permanent workers was in line with the bank’s commitment to developing and growing talent by nurturing its people along their career paths and giving them access to higher responsibilities.

He said the bank was resolute that recognising and rewarding excellence would drive its goal of achieving exceptional performance in the industry.

Kie said, “The bank, in its renewed drive for optimal performance, has in addition realigned certain roles bank wide to ensure improved efficiency. This necessitates the exits of some staff who were adequately compensated.

“This is in furtherance of a market repositioning exercise designed to strengthen the bank’s business across all markets where it operates.”

He emphasised that the ETI was on a trajectory to achieve leadership and that the Nigerian subsidiary remained one of Ecobank Transnational Incorporated’s major affiliates as well as one of the country’s systemically important financial institutions.

Kie explained, “Our focus is to improve the quality of service to our customers as well as our operational efficiency.

“We understand that people are our key assets; so, we have emphasised the need to reward our best performers, continue to re-invigorate our people, while also opening up new opportunities for talented and committed people to join us as permanent employees. At the same time, based on our repositioning plan, we had to disengage some staff, while ensuring that, in line with industry standards, they are treated fairly.”

Ecobank Nigeria is a member of the Ecobank Group, which is present in 36 African countries. The Group employs nearly 19,000 people from 40 different countries in over 1,200 branches and offices.

ETI had posted over N40bn decline in its profit for the 2015 financial year owing to high impairment charges.


http://www.punchng.com/ecobank-nigeria-fires-1040-workers/

Unfortunately it seems like i know economic structure and planning better than Nigeria's politicians. I think i'll do a better job than these politicians running our government. If you follow my posts, you would've seen this coming like i did a long time ago. https://www.nairaland.com/3076787/nigerian-banks-ready-changing-times#45158232

You guys should pay attention to the voices of wisdom. I'm not a prophet, i just have common sense and i think critically, i know how the world works and i can help to solve Nigeria's problems. Get me the president

This is getting hotter day by day.

[size=13pt]Eeyaa . . . and some of them were probably chanting "Sai Buhari" Sai Baba" during last election[/size]

Its about to go down







Self employment is as sweet as heaven,

Am my own BOSS

Nobody sacks the BOSS.





Check my signature to know what am into

All hail to that man & his lying crew for promising Nigerians to create 3m jobs in a year but, turns out to do other wise. God help those that never voted for this fake Change..

Dividends of change

no one should grumble or complain oo

Sometimes when this happen to some people it leads them to their path of greatness and other it spell doom for the rest of their life.

I know people like you will mention Buhari in this and rejoice over oil installation bombing news. We all go suffer am.

Goddex:
[size=13pt]Eeyaa . . . and some of them where probably chanting "Sai Buhari" Sai Baba" during last election[/size]

Goddex:
[size=13pt]Eeyaa . . . and some of them where probably chanting "Sai Buhari" Sai Baba" during last election[/size]

[size=13pt]Sai Baba Barber Has Barbered Them, They Can See Clear Now With No Hypo..[/size]

madridguy:
I know people like you will mention Buhari in this and rejoice over oil installation bombing news. We all go suffer am.

You Don't Want Him To Blame “The Dullard Of The Tribe Of Daura” But, You Blame GEJ Even In Your Dreams..


National Ministry Of Wailers Warns That Hypocrites Are Liable To Go To Hell..

I reserve my comment in respect of the affected staffs presently on this thread reading. I don't want to add salt to their injury, feeling their pain.

May God comfort them.

BeeBeeOoh:
[size=13pt]Sai Baba Barber Has Barbed Them, They Can See Clear Now With No Hypo..You Don't Want Him To Blame [b]“The Dullard Of The Tribe Of Daura” But, You Blames GEJ Even In Your Dream..


national Ministry Of Wailers Warns That Hypocrites Are Liable To Go To Hell..

madridguy:
We reserve our comments in respect of the affected staffs presently on this thread reading. We don't want to add salt to their injury, feeling their pain.

May God comfort them.

[size=25pt]FIXED!![/size]



A very Big AMEN To That Prayer

Sorry Guys!!!





Change is Constant.......





You can also Change the situation you are facing now if you had some savings against the rainy day....



Just Check my Signature.







#MySignature#MyBusiness

God help us o0o

The truth is our banks deserve what they are getting, our banks are like over bamperd babies., they all depended on government money in there banks
The banking sector should be the driving force for diversification of the economy, banks need to invest in Nigeria, sponsors projects with great potentials
Key into they youths, we have lots of ideas, ict, agriculture, transport, education, entertainment, fashion and so on, sponsor this ideas and at the end of the day we have a sound banking system that's unshakeable and a great economy

Buhari is the cause but the MD didn't made mention of economy or Buhari?Those who read and comprehend the news,please tell us what's the reason behind those sacking?

It sucks

Especially with the harsh economy and rate of unemployment.

May God comfort them.

Blame it on the sorry state of the economy.

To hell wIth bank job.

Arrrrrh,mogbe ooOh....Was this the 3 million jobs we were promised during election

[size=30pt]APC[/size]=[size=30pt]Shame[/size]

the change is real some staffs will be praying and fasting earnestly not to receive their sack letter this morning,




eewo!














the change is real.




chain I still stand with Buhari small

Very unfortunate. The Change we voted for bites hard

What is going on?

These guys that live lavishly? It's only in Nigeria that you will see a young guy with a salary of 250k driving a car worth 2.5m . That's too much for someone with that kind of pay. No savings for the rainy day.

750000 emergency jobs from Osinbajo

Some outcast will still be saying that PMB is trying.

may God help us. Its obvious that things are not going to get better.

All this sacking is unnecessarily adding to the number of unemployed.

Bank job na Job?

Very difficult times.

I pray God will help them.

TSA has sucked life out of the banks, yet it is being bandied as an achievement. TSA has taken liquidity, the lifeblood that is pumped by the banks and which flows in the veins and arteries of our economy, TSA has taken it away. Liquidity that should flow through banks is warehoused in CBN vaults. Nigerian banks are stressed.

Everywhere in the world, government money is a source of vital liquidity into the economy so consumers can buy goods which will further stimulate production, or importation. This is not the case with Nigeria, TSA has mopped the money, and as far as I know, despite the signing of the budget in May, capital votes have not been released to MDAs., so no money anywhere.

The Nigerian economy is being programmed to die, which explains this government's first year of COMPLETE INACTIVITY(except lies and propaganda). The economy would have died much earlier but its resilience and complexity was underestimated. If you cannot see the pattern yet, I am sorry for you, you are wilfully blind. TSA, Delayed ministers, delayed budget, delayed release of budgetted capital allocations, nothing absolutely nothing is going on in health, power, agriculture etc.

Repent and seek God, these are end times.